BILL NUMBER: S4666
SPONSOR: JACKSON
 
TITLE OF BILL:
An act to amend the retirement and social security law, in relation to
service retirement benefits for certain members of the New York city
employees' retirement system
 
PURPOSE:
To remove a statutory reduction totaling 50% of the primary social secu-
rity disability benefit received currently imposed on New York City
firefighters and police officers hired after July 1, 2009 at age 62, New
York City uniformed correction/sanitation revised plan members, and
investigator revised plan members.
 
SUMMARY OF PROVISIONS:
Section 1 amends Section 505 of the Retirement and Social Security Law
to remove the social security offset for New York City firefighters and
police officers hired after July 1, 2009, at age 62, New York City
uniformed correction/sanitation revised plan members, and investigator
revised plan members under the regular service retirement benefit, early
service retirement benefit, and 22-year plan.
Section 2 adds a new subdivision h to Section 511 of the Retirement and
Social Security Law to exempt members of the New York City fire depart-
ment pension fund and police pension fund, New York City uniformed
correction/sanitation revised plan members, and investigator revised
plan members who retire pursuant to Section 505 or on a deferred vested
benefit from the requirement that their service retirement benefit be
reduced by 50% of the value of the primary social security benefit.
Section 3 amends subdivision c of Section 516 of the Retirement and
Social Security Law to remove the social security offset for New York
City firefighters and police officers hired after July 1, 2009 at age
62, New York City uniformed correction/sanitation revised plan members,
and investigator revised plan members receiving a deferred vested bene-
fit.
Section 4 - shall not apply to the calculation of such participating
employer's contribution rate for the purposes of subdivision c of
section 500 of the retirement and social security law.
Section 5 is the effective date.
 
JUSTIFICATION:
Under current law, New York City firefighters and police officers hired
after July 1, 2009 at age 62, New York City uniformed
correction/sanitation revised plan members, and investigator revised
plan members are subject to a reduction in accidental disability bene-
fits equal to 50's of the primary social security disability benefit of
the members.
New York City firefighters and police officers hired prior to July 1,
2009 are not subject to the offset. Uniformed correction officers,
uniformed sanitation workers, and investigators who were employed prior
to 2012 are not subject to this offset. Therefore, this legislation
would establish equity in the pension system.
 
LEGISLATIVE HISTORY:
2023-2024: S5792-A - Reported to Finance
 
STATE AND LOCAL FISCAL IMPLICATIONS:
See fiscal note.
 
EFFECTIVE DATE:
This act shall take effect on the sixtieth day after it shall have
become a law.

Statutes affected:
S4666: 505 retirement and social security law, 511 retirement and social security law